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Capital infusion has helped 3 PSU general insurance cos to improve their business performance, says Sitharaman
``The capital infusion was meant to build their business and...
UK specialist re/insurance broker BMS Group strikes strategic partnership with Berns Brett India
Subject to Regulatory approval, Berns Brett India will be rebranded...
IRDAI considers mandating Cross Boarder Reinsurers to furnish large collaterals for accessing Indian business
`The CBRs have been getting significant amount of premiums from India and their share in the Indian reinsurance market is increasing. It is now felt necessary to ring-fence the interests of Indian insurers to maintain their ability to meet obligations towards...
Yemen’s Houthis say ship attacked in Gulf of Aden may sink
“Shipping companies must weigh up the increased costs and journey times against the risk to their vessels, and, most importantly, the safety of the crew onboard,” insurance broker Gallagher Speciality Marine said in a report last week CAIRO/LONDON: Yemen’s Houthi...
Indian diesel diverted to Asian markets as Houthis attacks impact flows to Europe
Tankers heading to Europe or the Atlantic Basin are being forced by the Houthi threat to go around South Africa’s Cape of Good Hope, increasing journey lengths and costs, or use the Suez Canal, “with the risks involved and extremely high war risk insurance Shipments...
Star Health gets GST notice of Rs 170 cr on reinsurance deals
Star Health and Allied Insurance Company said that it has received a tax demand order for Rs 170 crore, along with a penalty of Rs 8.7 crore on non-payment of GST liability on the re-insurance commission received by the company during the period April 2018 to March...
Policybazaar Insurance Brokers gets reinsurance license
Policybazaar Insurance Brokers (Policybazaar), PB Fintech’s wholly-owned subsidiary, has received the nod from the IRDAI ) to upgrade its license from a direct insurance broker to a composite insurance broker. A composite insurance broker can also intermediate...
Sonowal launches ‘Sagar Aankalan’ guidelines for Indian Port Performance Index
Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways and Ayush The MoUs signed at GMIS 2023 encompassed various facets of the maritime sector, including port development, modernization, green hydrogen and ammonia, port-led development, the cruise...
Karnataka Govt to establish district-wide chemotherapy day-care centers
Siddaramaiah,Chief Minister, Karnataka Presenting the 2024-25 budget in the Assembly, Chief Minister Siddaramaiah said state-of-the-art Critical Care Blocks (CCB) will be set up in each district to provide better healthcare to patients suffering from critical illness...
‘Kerala united against rare diseases’ project will be crucial in rare disease treatment: CM Vijayan
Pinarayi Vijayan,Chief Minister, Kerala He said that the state government is trying to prepare a comprehensive care plan to prevent rare diseases, detect them early, provide currently available treatment, provide therapies and assistive technology devices, ensure...
Russia’s Aeroflot finalises insurance settlement for seven more planes
Russia’s Aeroflot has finalized insurance settlements with leasing companies for seven more planes, it said on Friday Russia’s Aeroflot has finalized insurance settlements with leasing companies for seven more planes, it said on Friday. Planes leased by Russian...
South Africa’s President will sign health insurance bill into law for providing universal health coverage
South Africa’s President Cyril Ramaphosa The law aims to provide healthcare to millions of poorer citizens in a major overhaul of a two-tier system, which still reflects deep racial and social inequalities three decades after the end of white minority rule South...